Are you looking for a way to benefit the University of Miami both now and in the future? Would you like to simplify your annual and lifetime charitable giving? What if you could support the U, and make gifts to other charities you care about, all from one convenient centralized account? You can accomplish all this, and even more, with a donor advised fund.
A donor advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities, or other assets to a donor-advised fund, you are generally eligible to take an immediate tax deduction. Those funds are then invested for tax-free growth and you can recommend grants on your timetable to any IRS-qualified public charity, including the University of Miami.
If you already have a donor advised fund, you can always support the University of Miami with grant recommendations from your account. You may also wish to consider incorporating your donor advised fund into your estate plan by making a bequest in your will or trust of your donor advised fund.
The University of Miami, in partnership with BNY Mellon Charitable Gift Fund, now offers its own Donor Advised Fund. The University of Miami Donor Advised Fund is a great new way to formalize your support and commitment to the U and other qualified charities and receive tax benefits. Once you have funded your donor advised fund account, you can make gifts to the University or any other qualified charity at any point during your lifetime. Click here for more information.
A donor advised fund has several advantages when compared to a private foundation. The start-up time and costs are minimal for donor advised fund, and gifts to donor advised funds are generally deductible at fair market value. Donor advised funds are also not subject to the distribution requirements and certain excise taxes faced by private foundations.
To learn more about how a donor advised fund including the University of Miami Donor Advised Fund works and whether it might be right for you, please contact us. We would be happy to assist you and answer any questions you might have.
Already included University of Miami in your estate plans? Click here to let us know.